- White Star Complex Shekilango Road
- Sinza Mapambano
- Ubungo District
- Dar es Salaam
Enterprise Finance Ltd (EFL) is a Microfinance Company incorporated in 2010 under the Companies Act to undertake the business of providing financial services to enterprises and individuals, Operating in two regions Dar es Salaam and Arusha.
The company was established to meet the growing need for financial services by entrepreneurs and individuals wishing to obtain capital to grow their businesses and/or meet urgent personal needs. We have noticed that most commercial banks are generally based toward serving large corporate borrowers, who provide better business plans and more reliable financial information, have a good credit rating and a better chance of success and are more profitable for the banks.
Existing Microfinance Institutions (MFIs) offer a limited range of loan products designed for groups and a few individuals. As a result, there has been the mushrooming of informal finance provision in the country that is disorganized and expensive. Driven by the demand for such finance, EFL developed a lending model in the form of quick, flexible and easy finance based on conditions and terms that reflect the peculiarities of each borrower.
The company has introduced the relationship-lending model that is based on qualitative information, with an emphasis on the character and reliability of the client, which has been gathered from informal sources, such as suppliers of products, personal guarantors and references, to enable the client to obtain a loan quickly without being interrogated as normally happens with traditional lenders.
The loan size offered to each client would be unique, depending on the nature of the project pursued, ability to pay and the character of the client. Personal and institutional references and a guarantee system would enable the client to obtain finance without necessarily having the collateral required by most banks.